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OIL: Indian Oil Plans Refinery Expansions in 2025-26 Amid Rising Demand

OIL

Indian Oil Corp. plans to expand refinery capacities in 2025-26 amid rising demand in India, according to Chairman Shrikant Madhav Vaidya in the annual report.

  • The Barauni plant will be expanded from 6m tons per year to 9m tons/year, Panipat from 15m to 25m tons and Gujarat from 13.7m to 18m tons.
  • Indian Oil total capacity is currently 70.3 million tons/year.
  • An increase in India’s refining capacity from 257m tons to 450m tons is needed with oil demand expected to rise to 9.3mbpd by 2040 from 5.4mbpd, Vaidya said.
  • The state-owned refiner also seeks to expand petrochemical capacity to 15m tons by 2030.

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